| to Processing of Application).
(h) Responsibility.
(1) Responsibility of transferor. Before the transferee
begins performing credit access business activity under a license,
the transferor is responsible to any consumer and to the OCCC for
all credit access business activity performed under the license.
(2) Responsibility of transferor and transferee. If
a transferee begins performing credit access business activity under
a license before the OCCC's final approval of an application described
by subsection (e), then the transferor and transferee are each responsible
to any consumer and to the OCCC for activity performed under the license
during this period.
(3) Responsibility of transferee. After a transferee
begins performing credit access business activity under a license,
the transferee is responsible to any consumer and to the OCCC for
all credit access business activity performed under the license. The
transferee is responsible for any transactions that it purchases from
the transferor. In addition, if the transferee receives a license
transfer, then the transferee's responsibility includes all activity
performed under the license before the license transfer.
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